Business & Markets

U.S. LNG Grabs 10% of Market as Jan-Aug Exports Equal 2018 Volumes

U.S. exports of liquefied natural gas (LNG), negligible just three years ago, now amount to 10% of the global market and at 22 million tons so far this year are equal to the total volumes pumped out in 2018, Refinitiv data showed on Tuesday.

Cheniere Completes Second Train at Corpus Christi LNG Project

Cheniere Energy, the largest U.S. exporter of LNG, on Tuesday announced that Train 2 of its Corpus Christi, Texas, liquefaction project has been declared substantially complete.

China’s Gas Consumption Growth Rate Expected to Slip in 2019

China’s natural gas consumption growth rate is expected slow to around 10 percent in 2019, from 17.5 percent last year, amid easing economic growth and pressure on the country’s production, storage and gas sales network, a government report showed.

Asia's Imports of U.S. Crude Hit Record, but Pullback Likely: Russell

Columnist Clyde Russell says Asia’s record crude oil imports from the United States in August may be as good as it gets for some time - and not only because of the escalating trade war between Washington and Beijing.

U.S. to Help Poland, Ukraine Cut Dependence on Russian Gas

The United States, Poland and Ukraine agreed to enhance cooperation over secure gas supplies in the region which still relies on Russia.

Ruptured Nigerian Pipeline Spilled Oil: NNPC

A pipeline that ruptured on Friday in Nigeria's Delta state spilled oil, but has been contained, the head of state oil company NNPC said.

New Pipelines, Hurricane Drive WTI Inventories Down, Prices Up

U.S. oil futures rose 1.7% on Thursday, lifted by a deep draw on U.S. crude inventories, especially at the benchmark's delivery hub due to increased demand with the start-up of two new West Texas pipelines.

Feds Clear Way for Williams Pipeline over NY Objections

Federal regulators have cleared the way for a Williams Partners natural gas pipeline to move forward despite New York’s denial of a water quality permit that had blocked the project.

Gazprom Braces for Decline in European Gas Exports, Prices

Kremlin-controlled energy giant Gazprom on Thursday conceded for the first time that its gas exports to Europe, as well as its prices, will decline in 2019 following record-high volumes last year.

Nord Stream 2 Investor OMV Says Project Can Still Meet Deadline

The chief executive of Austrian energy firm OMV said the Nord Stream 2 company has not changed its expected completion date and could still deliver the project on time and budget, despite Denmark's still-pending decision on a construction permit.

Tallgrass Midstream Weighing Offer to go Private

Tallgrass Energy said it is forming a committee of independent directors to consider Blackstone Infrastructure Partners' proposal to buy all of Kansas-based midstream's shares it does not already own.

Saudi Aramco Sells First Crude From Permian Pipelines

Aramco Trading Company (ATC) sold its first-ever cargo of U.S. West Texas Light (WTL) crude, with a South Korean refiner the buyer, as the Saudi Aramco unit expands its U.S. oil dealings to boost trade volumes, four people familiar with the matter said.

Canada's Energy Regulator Responds to Concerns Over Enbridge Pipeline Plan

Canada's energy regulator on Tuesday responded to shipper complaints about Enbridge Inc's plan to switch to fixed contracts on its Mainline pipeline network by announcing a fast-track process to gather comment on the proposal that could lead to its being delayed.

North Dakota Pledges Improvement to Spill Reporting Procedures

North Dakota's Health Department is pledging to provide easily accessible information on oilfield and agriculture-related spills, a move that comes after a liquid natural gas pipeline leak that was much bigger than publicly reported and could take another decade to clean up.

BP to Quit Alaska After 60 Years With $5.6 Billion Sale of Assets

British oil major BP on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.

New Permian Pipeline Startup Splits WTI Midland Market: Traders

WTI Midland crude prices at Plains All American Pipeline LP’s Midland terminal spiked this month compared with barrels traded at Enterprise Products Partners LP’s Midland terminal as Plains’ Cactus II pipeline began service, oil traders familiar with the matter said.

Canada's Largest Oil Producer Joins Opposition to Enbridge Pipeline Plan

Canadian Natural Resources Ltd, the country's biggest oil producer, has joined a number of other firms asking Canada's energy regulator to intervene in Enbridge Inc's plan to overhaul shipping contracts on its Mainline pipeline network.

Mexican President Touts $4.5 Billion Savings in New Pipeline Deal

Mexico said on Tuesday it had struck a deal with a group of companies to renegotiate the terms of natural gas pipeline contracts signed under the previous administration that will eventually save the government $4.5 billion.

TechnipFMC to 'De-Merge' into Two Independent Companies

TechnipFMC said it will separate into two independent, publicly traded companies to focus on their respective strategies and provide improved flexibility and growth opportunities. The new companies will split along the lines of their 2017 merger, with an integrated technology and services provider and an engineering and construction company.

Shell, Suncor Energy Ask Canadian Regulator to Review Contentious Enbridge Pipeline Plan

Two major oil companies have asked Canada's energy regulator to urgently review Enbridge Inc's proposal to switch to fixed contracts on its Mainline pipeline system, arguing the changes would be an abuse of Enbridge's market power.

Plains All American to Remove Steel Tariff Surcharge on Cactus II

Plains All American Pipeline filed with U.S. regulators on Monday to remove a proposed surcharge on its Cactus II oil pipeline, tacked on as a result of the Trump administration’s tariff on imported steel.

Wood Mackenzie Parent Verisk to Acquire Genscape

Verisk signed a definitive agreement to acquire Genscape, a global provider of real-time data and intelligence for commodity and energy markets, for $364 million in cash. Genscape will become part of Wood Mackenzie upon completion of the transaction.

Enterprise Begins Open Season for ATEX Ethane Pipeline

Enterprise Products Partners has announced the start of a binding open season to determine demand for expanded capacity on the partnership’s Appalachia-to-Texas (“ATEX”) ethane pipeline.

Gulf Coast Crude Prices Slide After Threat of Chinese Tariffs

China’s threat on Friday to slap a 5% tariff on U.S. oil imports could further soften demand for physical crude at hubs along the U.S. Gulf Coast, where exporters already have taken to shipping crude overseas without firm buyers, traders said.

Tellurian Files for FERC Review of Permian Global Access Pipeline

Tellurian has asked the Federal Energy Regulatory Commission (FERC) to initiate a review of its proposed Permian Global Access Pipeline following an oversubscribed open season for the 625-mile natural gas project from West Texas to Southeast Louisiana's growing LNG export market.

H2O Midstream Acquires Sabalo Energy Produced Water Assets, Closes 15-Year Service Agreement

H2O Midstream has announced the acquisition of produced water infrastructure from Sabalo Energy, concurrent with the execution of a 15-year acreage dedication to provide produced water gathering, disposal and recycling services to Sabalo.

Permian Basin Natural Gas Prices Rise as GCX Nears Completion

Natural gas spot prices at the Waha hub in West Texas closed at their highest price since March as the 2 Bcf/d Gulf Coast Express (GCX) pipeline is preparing to enter service, according to a Thursday update from the U.S. Energy Information Administration (EIA).

Brazil's LNG-to-Power Complex Funded; Phase 2 Underway

The Natural Gas Acu joint venture between Prumo Logistica, BP and Siemens has gained regulatory approval for LNG imports and satisfied lender conditions for $750 million in project financing to complete the 1.3 GW Phase 1 of its LNG-to-Power complex at the Port of Acu.

Bakken Oil Flows Hit 6-Month High as Rail to East Coast Drops

Crude pipeline flows from North Dakota's Bakken shale field have climbed to the highest in six months after the June closure of the largest U.S. East Coast refinery cut crude-by-rail volumes, according to traders and market intelligence firm Genscape.

Mexican President Hopes for Pipeline Deal Next Week

Mexican President Andres Manuel Lopez Obrador said on Thursday a deal could be reached next week with companies to end a contractual dispute over several natural gas pipelines, dialing back hopes for a quicker resolution.